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A Real Estate Company has 20 listings for homes in a certain city. The number of days each house has been on the market without
A Real Estate Company has 20 listings for homes in a certain city. The number of days each house has been on the market without selling is shown in the accompanying table. Complete parts a through c below. 31 92 50 78 26 23 92 63 88 107 CI 63 31 1 2 90 77 34 43 35 1 00 71 a. Considering these 20 values to be the population of interest, what is the mean of the population? The population mean is days. (Round to two decimal places as needed.) b. The company is making a sales brochure and wishes to feature 5 homes selected at random from the list. The number of days the 5 sampled homes have been on the market are listed below. If these 5 houses were used to estimate the mean for al 20. what would the sampling error be? 92 77 78 35 43 El The sampling error for this sample is days. (Round to two decimal places as needed.) c. What is the range of possible sampling error if 5 homes are selected at random from the population? The possible sampling error ranges from days to days. (Round to two decimal places as needed. Use ascending order.)
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